Minister Devika Vidot addresses global leaders at the 7th World Investment Forum |23 October 2021
Minister Vidot
The Minister for Investment, Entrepreneurship and Industry, Devika Vidot, made a special intervention yesterday at the online 7th World Economic Forum or ‘Davos’, an event which started on Monday October 18.
Seychelles, having gone through the Investment Policy Review process for the first time, got the opportunity to present as a speaker at the Forum.
The theme addressed by Minister Vidot was ‘Showcasing Reforms to Promote SDG Investment’.
In her address she mentioned Seychelles’ plans to diversify its economy through the blue economy, tourism, agriculture, fisheries, sustainable manufacturing aligned with government’s priorities, hence building the country’s economic resilience over unforeseen external shocks.
Addressing delegates from other countries, she welcomed investment in the priority areas in Seychelles and stressed on the need to have a national action plan to support science, technology and innovation in priority sectors of the economy.
Minister Vidot reiterated the work being done to establish an entrepreneurship framework and strategy which would include revisiting the investment Act and bilateral and multilateral partnerships to make them more responsive to the local economic needs, streamlining and digitalizing investment services, capacity
building to develop an investment culture both within the public sector and private sector.
She further outlined certain key prerequisites to facilitate an effective investment environment such as institutionalizing infrastructure to support entrepreneurship, gaining public and private sector engagement, promoting and facilitating private sector venture into the diversification agenda and creating an environment
which fosters research and development and for the uptake of the findings and acquired knowledge to be converted into entrepreneurship and business opportunities.
She also used the opportunity to thank UNCTAD for its support in preparing the Investment Policy Review which has served as a guidance for formulating the ministry’s plans to economic growth and diversification.
The 7th World Economic Forum brings together global leaders to shape principles, policies and partnerships amid the Covid-19 context and is taking place under the wider theme of ‘The Great Reset’.
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